What is Retirement? Different to different people.....

What is Retirement? Different to different people…………

It is that on reaching age of superannuation as per rules governing your job, you are force not to work from tomorrow.  And very next day you are tag as retired/pensioner/sr citizen excetra.This is obvious when you are working in organized sector.

Vast majority of the people are in unorganized sector earn their livelihood, with no retirement benefits or other financial benefits.

They continue to work till they can and till they need.  There is no retirement for them.

Third category is of professionals & self employed people.

Even the chronological advances people in profession still continue to do job. Same is true with politicians. They grow in experience with advancement in age & they earn respect too.

Last, house wives for them there is no retirement, they can relax when Bahu comes home. But, with modern life style this too has become daisy.

My views on retirement are different. Retirement should be conscious decision. And it should be by choice. If, you are employee then you have two choices one normal retirement and another you opt for.

Retirement is not end in itself. You need to try something else. You lived in particular way, now try differently, and take another route. Change is always good, fresh& challenging.

If you are in some position & the chair you occupy gives you respect .The moment you step down from chair you loose the hollow. You feel dejected, sorry & carry the feeling of old age.

You are treated as unwanted, used furniture in your own family. You are no more earning member of the family. You are now living on pension & interest on investments.

You associate yourself with chronic arthritics, depression, and fatigue & become perfect case of neurosis.

Retirement word do not denote, connote you are tired. But the word itself says you Retry, Reschedule life differently.

There are two factors hovers around the call on retirement. One why I should with emotional decision forgo my income or pay package in advance. Secondly, how to kill time? All alone I used to be busy in my vocation, job irrespective whether I loved it or not.  Whether job done with enthusiasm or reluctantly, I used to get regular income.

Cost of living is increasing; inflation is double digit; age is advancing & I am averse to risk taking. So there is always inertia which plays crucial role.

Understand one thing, you will and should never have your financial goals or urge satisfied. The financial goals are ever changing. Your basic financial necessities such as house, car, reasonable savings & so on are taken care of, which depends upon your own subjective definition of “enough”. One needs to take call on retirement.

 

Ideally financial planner says you must start early to build your retirement portfolio.10% of your after tax free income should go to annuities or insurances & mutual fund SIP .You should also have direct exposure in equities as an asset class to take care of inflation. They also suggest be active in bond market if, you are averse to stock. Bond market provides cushion against interest rate moving southwards.

Tell me! Whether average Indian thinks this way. He is comfortable with NSCs PPF, Insurance, Hsg loans for tax breaks, bank deposits for liquidity& safety. He follows the mantra stay invested, long in equities to reap the fruits of investment, this too has become dicey.

I have seen in my life, my Aunty was in government job. She has housed many diseases high per tension, artistries, diabetics, forgetfulness & restlessness. She was not ready to give up her job. Ultimately, she suffered dementia & forcefully made to retire. Nor she knew she retired, live apart enjoying pension & post retired life. This is an extreme case.

Life is full of target oriented, competitive& rat race is going on every where. When you work, when you perform you encounter obviously many stressor. Retirement means freedom & not running away. All along you worked for some organization, some institutions, engaged in some sort of job or profession.

There are many people their bodies are worn out so badly, they survive post retirement for very short period. People toil till last. Amass lot of wealth but they cannot carry the same with them, when they live their bodies. I am not talking philosophical but these are hard facts of life. You are trustees of your bodies.

Decision as regards to retiring is crucial.

When I told my friend, retirement means freedom, you can live life as per your choice. And I want to live my life as freelancer.

He ridicules me, “What freedom? What you are going to do”

“Whether you will be walking whole day? or

Sleeping whole day/

Eating whole day/

Roaming whole day

Watching cable whole day/or

In kitchen whole day/

On line trading whole day/

Meditating whole day/

Reading books whole day/

Cruising/criticizing/ gossiping whole day/

Playing cards whole day/

On the net/web sites whole day/”

“Don’t be in fools paradise/

What social engagement you have to cherish?”

“Not only your financial heath will be in danger but psychological heath too/ “

He may be & is right in a way too.

Great legendary Cricketer Vijay Merchant use to say ‘Right time to take a call when people ask you why you retired? before they ask you when you will retire’. Reference point may be cricketing carrier but also true with your own carrier path/life.

It is generally given as wise quote’ Don’t say Yes when you want to say No’. Keep this in mind all the time.

You have had a long journey, got enough experience with which you can definably survive. When you are post sixty, you mentally become averse to new things & changes. Right age to take a call is in the range of fifty plus to fifty five.

My, dear friends, life is not counted in money or dollars you have. No doubt money has its intrinsic value. Money brings you more comforts. In economics’ Money is defined as” Money is what Money does!’

Remember this simple sentence …….

Bhagya se adhik aur bhgyase pahile kuch hota nahi.

You are not dead wood. You are not NPA ie non performing asset as per banking terminology.

You are in and should play second inning post retirement.

Value what you can. Value your flexibility, value your stamina, your actions should bring vigor to your limbs, purpose to your sprit & power to your action.

Wishing you, all the best, don’t ponder over take a call.

By

Ajeet Bhide